Finance ministry okays Vi dues conversion to govt equity

The finance ministry has cleared a proposal to convert Vodafone Idea’s ₹16,130-crore worth of accrued interest on deferred adjusted gross revenue (AGR)-related dues into equity.

The ball is now in the telecom department’s court, which has to finalise the transaction as per the package announced earlier.

“It (the equity conversion) has received the finance ministry’s nod in line with the approved (telecom relief) package,” said an official aware of the developments.